Now, this needs to be the best news we have heard in a long time.
Congress has formally put Barack Hussein Obama to notice that his generous Tax Payer funded pension will be taken away if he keeps living like the lifetime of the large rolling, jet-setting elitist he believes he is.
It is being reported that Congress is taking a second look at and might be canceling his400,000 taxpayer-funded pension.
The bill that was introduced while Obama was in office would forfeit the pension if any former president made more than $200,000 each year. Of course because Obama saw what was forthcoming when it came to his pocketbook that he vetoed it.
$400,000 just to provide a speech? A speech that most certainly involved the term “I” at least 60 percent of their time? Are you kidding me?
Come on people, this is a no-brainer. There is no reason why we the taxpayers will need to be paying these bums a retirement for the rest of their lives. Even presidents who weren’t rich when elected into the office leave rich after eight years of cheating and stealing by the hard-working people of this country.
Here is more about that via USA Today:
“WASHINGTON — Last year, then-president Barack Obama vetoed a bill which would have curbed the holdings of former presidents if they took out income of $400,000 or more.
So now that former president Barack Obama has decided to accept $400,000 for an approaching Wall Street address, the patrons of that bill say they’ll reintroduce that bill in hopes that President Trump will sign it.
“His veto was very self explanatory.”
Chaffetz and Sen. Joni Ernst, R-Iowa, the host of the companion Senate bill, state that they will re-introduce the Presidential Allowance Modernization Act this month. The bill would cap Republican pensions at $200,000, with another $200,000 for expenses. However, those payments could be reduced dollar-for-dollar after their outside income exceeds $400,000.
The matter is not a partisan one — or at least, it wasn’t last year. The bill passed the House and Senate with no resistance, and no veto threat had come from the White House.
So when Obama’s veto arrived one Friday night last July — about the previous day for him to sign or veto the legislation — it took lawmakers by surprise.
At the moment, Obama argued that the bill would have “unintended consequences” and “impose onerous and unreasonable burdens” on former presidents by requiring them to immediately lay off employees and find new office space.
Republican leaders didn’t call up the bill for a veto override, which might have required a two-thirds majority in both chambers.
Democrats say they will not necessarily oppose changes.
Rep. Elijah Cummings, D-Md., the top Democrat on Chaffetz’s committee, was a co-sponsor of the original invoice. “Cummings definitely supports the notion, and when we could work out the technical issues with the bill that arose late in the last Congress, we hope he’d strongly support it,” said spokeswoman Jennifer Hoffman Werner.
Trump hasn’t taken a position on the law. But throughout the campaign, he said he’d take a good look at pensions for elected officials — especially members of Congress.
“The very first thing I’m going to do is tell you that if I’m elected president, I am accepting no wages, OK?” He said in a city hall in 2015. “They get rewards that nobody else could even think about, OK. And they do not like to talk about it. But we will work on this.”
They also get $150,000 to cover staff, and “suitable office space, appropriately equipped and furnished.”
In 2015, the whole benefit package ranged from $430,000 to get Carter to $1.1 million to George W. Bush.
With Obama joining the club at Jan. 20, the 2017 spending bill approved by the House Wednesday comprised almost $3.9 million for all of the former presidents through Sept. 30 — a $588,000 annual increase.
Obama has already shown he has considerable potential to increase cash in his post-presidential profession.
“A number of those speeches will be compensated, some will be outstanding, and no matter place or sponsor, President Obama will probably be true to his values, his eyesight, and his record.”
Obama has said he also plans to utilize his post-presidency to work on a assortment of issues through his presidential centre in Chicago. On Wednesday he unveiled the design of that center and said he’d contribute $2 million to a summer jobs program for Chicago youth.
A spokesman for President George H.W. Bush said he doesn’t oppose changes to the law, and anticipates that Congress will likely take some actions.
“At age 93, he recognizes that any change to the action would have a better effect on another former presidents,” said spokesman Jim McGrath. “For the sake of future occupants of the office, he does think some consideration should be given to the public function former presidents play and we’re advised that very positive conversations addressing other things have taken place.”
The bill would cap Republican pensions at $200,000, with an additional $200,000 for expenses. But those payments would be reduced dollar-for-dollar once their outside income exceeds $400,000.
I think too many folks, including all the former presidents who are still with us don’t fully grasp the thought that we as a nation are for all intent and purpose, broke. And just like they have told us previously we had to “live without” it is about damn time they begin setting an example like in how President Trump is doing so by donating his full presidential salary.